Airbnb is invading these US cities

In a note to clients, Shaun Kelley and Dany Asad at Bank of
America Merrill Lynch laid out just where Airbnb is catching on
in the US.

"Thematically, we do not believe Airbnb represents an existential
threat to the traditional lodging industry; however, home-sharing
is an important phenomenon that is not going away," Kelley and
Asad said.

While Airbnb has undergone explosive growth, it still
represents a small part of the overall US lodging market,
with just 1% to 2% of US room demand and 2% to 4% of supply based
on Kelley and Asad's estimates.

"At present, we believe Airbnb's impact will be particularly felt
in certain urban areas, among longer-stay guests and during peak
leisure travel periods," the note said.

Tops among these cities is Miami with 15.3% of the market's
hotel-room supply, followed closely by New York and Los Angeles.
The chart also breaks down percent of supply for the top 25
markets, along with the averages for the US, top 25 markets, and
markets outside the top 25.